Financial Aid
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  • File Your FAFSA
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  • Verification
  • Types of Aid
  • Loans
    • Federal Student Loans
    • Parent PLUS Loans
    • Alternative (Private) Student Loans
    • Loan Limits
    • Responsible Borrowing
    • Managing Student Loans
    • Deferment Processing
  • What to Know
    • Cost & Payment
    • Securing Your Loans
    • Scholarship Opportunities >
      • Outside Aid
      • Outside Scholarships
    • Employer Payments or Reimbursements
    • Return of Title IV Funds
    • Satisfactory Academic Progress (SAP)
    • Graduation Adjustments
    • Exit Counseling and Repayment
    • Glossary of Terms

Federal Student Loans

Federal Direct Student loans are low-interest loans backed by the federal government. These loans are available to eligible students to help pay for their undergraduate and/or graduate education. You must complete a Free Application for Federal Student Aid (FAFSA) to be eligible for these loans.

Quick Facts
All Federal Direct Student loans currently have a 1.059% origination fee.* This means that the amount of the loan posted to your student account will be 1.059% less than what was accepted on MySiena. Students are allowed to borrow up to a certain dollar amount, which includes both an annual, and total aggregate amount to complete their degree. Loan limit information can be viewed by clicking here.

Subsidized Loans:


  • Only available to undergraduate students who demonstrate financial need.
  • Interest free while the student is enrolled at least part time (6 Credits).
  • The Current Interest rate is 4.53% for Undergraduate Loans (fixed rate for loans first disbursed July 1, 2019 to June 30, 2020).*

Unsubsidized Loans:

  • Available to both undergraduate and graduate students.
  • Interest accrues from the date of origination.
  • The Current Interest rate is 4.53% for undergraduate loans, and 6.08% for graduate loans (fixed rate for loans first disbursed July 1, 2019 to June 30, 2020).*

Loan Repayment

  • Repayment begins 6 months after you graduate, or if you fall below half-time (6 credits) or leave school.
  • If you are enrolled at least part time there are deferment options that you could qualify for, which will delay your repayment.
  • For complete information on loan repayment, repayment plans, and additional loan information, click here.

Securing Your Loans

Follow the steps on the Securing Your Loans link to ensure that all loan requirements are fulfilled, which will allow us to process and disburse loans to your student account.

                       *Loan origination fees and interest rates are set and collected by the Department of Education, and are subject to change.

Address

Contact

Hours

Financial Aid Office
1247 E. Siena Heights Dr.
Adrian, MI 49221

email us at finaid@sienaheights.edu

(517) 264-7154
Monday - Friday 8:30 a.m. - 5:00 p.m.
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